Credit Suisse chief executive Tidjane Thiam says bank is on course to double profits in Asia in three years

I am a reporter at City A.M. looking at the stories, people and data behind political events from the UK, Europe and further afield. I also write about infrastructure and transport, as well as broader issues around global business.

Follow James

Thiam said he sees opportunity across the board in Asia (Source: Getty)

James Nickerson

Credit Suisse is on track to double profits in Asia in three years, its chief executive Tidjane Thiam has said.

"We're on course. We said that we would continue to invest in Asia. We think this is a great time to invest because a lot of company investment is retrenching and that's the best time to invest because that's when we can pick up the best resources at the best price."

The chief executive pointed to the recruitment of top quality people. "We believe in Asia," Thiam added in an interview with Bloomberg.

The comments come just months after Thiam named Asia a priority for Credit Suisse. Back in October last year the Swiss bank pledged to reallocate resources to Asia, when rival banks were scaling back operations on the continent.

Talking about Japan, he said that Credit Suisse has experience of negative interest rates, having dealt with the situation in Switzerland. That means, Thiam said, the bank can help long term investors, pension funds and asset managers through the dynamics.

Thiam also reaffirmed that he sees opportunities in a host of other countries including India, Vietnam and Indonesia. "We see opportunity everywhere, across the board, and we're investing across the board," he said.

In a bullish mood, Thiam also said the bank has a long term commitment to China. He told journalists that Credit Suisse has been "underweight" in China, stating he is not concerned of slower economic growth in China.